SCHEDULES
SCHEDULE 4Rights to transfer benefits
PART 1Great Britain amendments
Pensions Act 2004 (c. 35)
34
The Pensions Act 2004 is amended as follows.
35
1
Section 18 (pension liberation: interpretation) is amended as follows.
2
In subsection (2)(a)—
a
after “accrued rights” insert “
or an entitlement
”
;
b
in sub-paragraph (ii), for “the applicable rules” substitute “
the scheme rules
”
.
3
In subsection (3)—
a
for paragraph (a) substitute—
a
section 94 of the Pension Schemes Act 1993 (right to cash equivalent under Chapter 1 of Part 4ZA of that Act);
b
in paragraph (b), for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.
4
In subsection (4)(d), for “the applicable rules” substitute “
the scheme rules
”
.
5
Omit subsection (5).
36
In section 23 (freezing orders), in subsection (4)(g), for “salary related schemes” substitute “
benefits other than money purchase
”
.
37
In section 24 (consequences of freezing order), in subsection (7), for paragraphs (a) and (b) substitute—
a
Chapter 1 of Part 4ZA of the Pension Schemes Act 1993 (transfer rights: general), or
b
Chapter 2 of that Part (early leavers: cash transfer sums and contribution refunds),
38
In section 73 (inspection of premises), in subsection (2)(d)—
a
for “Chapter 4 of Part 4” substitute “
Chapter 1 of Part 4ZA
”
;
b
for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.
39
In section 135 (restrictions on winding up, discharge of liabilities etc), in subsection (6)(b), for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.
40
In section 138 (payment of scheme benefits), in subsection (3)(b), for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.
41
1
Section 318 (interpretation) is amended as follows.
2
In subsection (2), for “an occupational pension scheme” substitute “
a pension scheme
”
.
3
In subsection (3)(a), for sub-paragraph (ii) substitute—
ii
Chapter 2 or 3 of Part 4 of the Pension Schemes Act 1993 (certain protection for early leavers) or regulations made under either of those Chapters;
iia
Chapter 1 or 2 of Part 4ZA of that Act (transfers and contribution refunds) or regulations made under either of those Chapters;
42
1
Schedule 7 (pension compensation provisions) is amended as follows.
2
In paragraph 20(1)(c), for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.
3
In paragraph 32(1)(b), for “Chapter 5 of Part 4” substitute “
Chapter 2 of Part 4ZA
”
.